BlackBerry Ltd. (NASDAQ:BBRY) released its latest earnings report this morning before opening bell, posting non-GAAP revenue of $491 million, GAAP revenue of $490 million and adjusted losses of 13 cents per share. Analysts had been looking for losses of 12 cents per share and revenue of $809 million for the second quarter of fiscal 2016. In last year’s second quarter, BlackBerry reported sales of $916 million.

Shares of BlackBerry Plunged in premarket trading after this morning’s report, falling as much as 7.54% to $7.03 per share at the NASDAQ.

BlackBerry posts GAAP net income

BlackBerry reported basic GAAP earnings of 10 cents per share, compared to losses of 39 cents per share year, and adjusted EBITDA of $68 million. The company recorded positive free cash flow of $100 million and $3.35 billion in cash and investments at the end of the quarter. That’s a #37 million increase from the previous quarter and includes use of $47 million for share repurchases.

Non-GAAP operating losses were $84 million, while GAAP operating income was $33 million. Non-GAAP gross margin was 40.9%, and GAAP gross margin was 37.8% for the quarter.

BlackBerry’s software revenue rises

BlackBerry saw its non-GAAP software and services revenue increase 19% year over year to $74 million with the main driver being a 33% increase in software licensing revenue. The company said about 15% of its overall revenue was software and services, while 41% was hardware and 43% was service access fees.

The company reported 2,400 “enterprise customer wins” during the quarter with about 60% of the licenses from those deals being cross-platform. BlackBerry recognized revenue on more than 800,000 smartphones with an average selling price of $240.

BlackBerry updates device roadmap

Also today with its earnings report, BlackBerry announced two new devices. One is the slider device the company has been hinting about for quite some time. As revealed by multiple leaks over the last several months, the device will be called the BlackBerry Priv and will run on Android. The device targets enterprise customers and is expected to be available for purchase by the end of this year.